EC Credit Control is today a recognised leader in the Debt Collection and Credit Management industries.

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Changing your Credit Management Process to Protect your Cash Flow

I recently had a meeting in Burwood assisting a local liquor wholesaler, to set up their Terms of Trade documentation and a membership with Veda, Australia's largest credit reporting agency. The reason Sarah and her father are using our services is to implement a solid credit management process to protect their cash flow.

They have experienced issues with slow payers and recently had a client became insolvent. The result of the insolvency was the liquidator subjected them to clawback of a preferential payment they had received. This is where a liquidator has the ability under the Corporations Act to recover money paid to unsecured creditors in the 6 month lead up to a company entering liquidation. Yes, it's real, and yes, it can hurt a small business severely.

As a result of this they wanted to eliminate such risks moving forward. We have now positioned them as a secured creditor on the PPSR with correctly worded Terms of Trade that allow them to do these PPS Registrations and recover money efficiently with the debtor liable for collection costs. They are also now in the habit of using Veda to perform credit checks on any new customers before giving them an account and monitoring their existing customers base so they will be alerted when an adverse event occurs if it's good enough for the banks who extend credit, they believe it's good enough for them.

After 26 years in business they now feel confident with the credit management process we have helped them establish to protect their cash flow and allow them to move forward with expanding their business to take on new account customers with confidence.

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Testimonials

There sure are a lot of slow payers out there thank goodness for EC.

1

Using the on-line services is fantastic. I can print reports and check the status of my debts easily and quickly.

1

We would like to express our sincere thanks to EC Credit Control. We had a debt that was of a considerable amount to any small business but with the help of EC Credit Control we are very happy to say the full amount has been recovered.

1

EC Credit Control provided us with great support and communication throughout the entire process. It was a relief to know that we had professional people to help and recovery the debt on our behalf.

What our Clients Say

Using the on-line services is fantastic. I can print reports and check the status of my debts easily and quickly.

1

There sure are a lot of slow payers out there thank goodness for EC.

1

EC Credit Control provided us with great support and communication throughout the entire process. It was a relief to know that we had professional people to help and recovery the debt on our behalf.

1

We would like to express our sincere thanks to EC Credit Control. We had a debt that was of a considerable amount to any small business but with the help of EC Credit Control we are very happy to say the full amount has been recovered.